The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-11-16
The Rise in Reading Squs.iss 4. s. Hstch and
Ssnds Him to the Wall
The Street in New York SRprissd BY the
Announcement Of His PailDrG
N, Information Ys. Given 0Hi Is to the
Hrm's Liabilities and Assets.
The Third Suspension of Hatch-Cause of
the Last One-POFeign Buyers Put
him Short of the Market.

NEW YORK, November 1.-the promi-
nent "bear" operator, A. s. Hatch, has sus.
pended. Mr. Hatch was once president OF
the Stock Exchange and for number OF
years me mher OF the firm of Fisk Il Hatch.
The announcement Of his failure was
made at the Stock Exchange Shortly after
2 2o'clOck. He was caught short of Reading,
and the boom in that stockIforced him to
the wall. The firm OF A. s. Hatch & Co.,
composed of Alfred S. and Frederick Il.
Hatch, filed an assignment this afternoon
for the benefit of the creditors, to Horace
II. Chittenden, with preferences amount
ing to $12, 600 in favor of May Y. Chitten-
den.
The failure Of A. S. Hatch & Co. was a
decided surprise to the street. but created
no excitement, whatever. A. s. Hatch
was one of the most prominent figures on
the Exchange. This is the third time Mr..
Hatch has been forced to suspend. The
first time was when the Jay Cook crash
carried down so many Wall street firms,
and the second was when Grant IL Ward
suspended. The partnership with Harvey
Fish, which had lasted quarter of CEN
tury, was dissolved after the second failure,
al d A. s. Hatch formed a partnership
with his son, K. H, under the title of A.
s. Hatch d Co. The firm did an immense
business and was understood to have had
some very large customers. For some
time back, however, Mr.. Hatch has been
operating on the short side of the market
and during the recent rise endsavored to
depress the market.
The stock of which he was the heaviest
seller was Reading, and the sharp advance
which has followed the absorption of al
most all the floating stock by great Eu-
Iopean syndicate was too much for him.
The price of this stock a short while ago
was 595s, and he is thought 10
have sold some Thousands OF shares around
that price. The stock advanced steadily
until Saturday, when it closed at 675s, and
to-day at the opening il jumped Is to 50,
and before delivery hour had arrived 1t
crossed 20. 1t was stated on the street
that Mr.. Hatch had received assistance
|. from other dealers and closed all his con-
tracts to the Stock Exchange members.
He was in his Office after the announce
ment of the suspension and gave cut the
following statement:
al have made an. assignment to H. B.
Chittenden for the benefit of my creditors,
| There are no outstanding contracts on
the stock exchange. 1 can give no state
ment, not even rough one of the assets
and liabilities.
On the stree. it was estimated that the
firms liabilities would amount to about
| $1,000 600. One Of the prominent features
| OF 4. S. Hatch's character was his fondness
| for missionary work. He founded the Gre
morne mission, and assisted Jerry Nc Au-
ley and other evangelists in every possible
way.
The rise in Reading and the plac1ug OF
the Chesapeake and Ohio Railroad Com
| pany in the hands of receiver are ascrib-
ed as causes Of the assignment. The SEN
ior partner has for many years been push.
ing the securities of the Chesapeake and
| Ohio Railroad Company, and this caused
the suspension OF Fisk Il Hatch in 1878.
When the present firm OF A. s. Hatch &
Company was formed thty claimed $780,
600 cash capital their own money and no
debts. The assignee says he thinks the
firm will be able to pay in full.